Location: Democratic Republic of the Congo
Operator: CASA Mining Ltd
Gold in the Ground: 1.5 Moz Au JORC Code (2012)
ARC Minerals Stake: 90%
Stage: Advanced Exploration
Next Step: Infill Drilling, expected to commence in August 2017
Project Investment to date: $30 million
CASA is a private gold mine development company and is currently advancing the large-scale 1.2 Au Moz Misisi Gold Project, located in the Democratic Republic of the Congo. ARC has since increased its stake in CASA to an approximate 90% equity interest upon conversion.
CASA has invested circa $30 million in exploration work across the Misisi project acreage. The company holds the rights to three contiguous mining licenses (133km2) located in the South Kivu province in the eastern Congo gold belt where they have; identified a 60km long 'corridor' prospective for gold, multiple prospects identified with some drill and trench tested returning significant intercepts.
Secured an initial near surface Inferred JORC Mineral Resource of 1 Moz Au @ 2.27 g/t Au at a 1.5 g/t Au cut-off within a broader JORC Mineral Resource of 1.5 Moz Au @ 1.65 g/t Au at a 0.5 g/t Au cut-off at the Akyanga Deposit; open along strike and down dip.
Undertaken a Positive Scoping Study at Akyanga confirming the potential viability of a 100,000 oz gold per year heap leach operation, with a total operating cost of under US$650/oz. CASA is looking to either commence commercial production at Akyanga or carry on expanding the resource where they believe there is scope to potentially double the resource.